Insider Selling: Zillow Group (NASDAQ:ZG) CTO Sells 3,966 Shares of Stock

Zillow Group, Inc. (NASDAQ:ZG) CTO David Beitel sold 3,966 shares of the business’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $44.22, for a total transaction of $175,376.52. Following the completion of the transaction, the chief technology officer owned 136,690 shares of the company’s stock, valued at $6,044,431.80. This represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Zillow Group Trading Down 0.9%

Shares of ZG stock traded down $0.40 during mid-day trading on Friday, reaching $43.30. The stock had a trading volume of 3,403,929 shares, compared to its average volume of 1,085,151. The business’s fifty day moving average is $65.38 and its 200-day moving average is $72.06. The firm has a market cap of $10.48 billion, a price-to-earnings ratio of 481.16, a PEG ratio of 2.62 and a beta of 2.04. Zillow Group, Inc. has a 1-year low of $42.25 and a 1-year high of $90.22.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Tuesday, February 10th. The technology company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.03). The business had revenue of $654.00 million during the quarter, compared to analysts’ expectations of $650.40 million. Zillow Group had a return on equity of 0.56% and a net margin of 0.89%.The business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 earnings per share. On average, analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Hedge Funds Weigh In On Zillow Group

Several institutional investors and hedge funds have recently modified their holdings of ZG. Vanguard Personalized Indexing Management LLC raised its holdings in Zillow Group by 3.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,550 shares of the technology company’s stock worth $312,000 after purchasing an additional 131 shares in the last quarter. DoubleLine ETF Adviser LP boosted its stake in shares of Zillow Group by 4.9% during the third quarter. DoubleLine ETF Adviser LP now owns 3,214 shares of the technology company’s stock valued at $239,000 after acquiring an additional 150 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Zillow Group by 4.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,657 shares of the technology company’s stock valued at $256,000 after buying an additional 156 shares during the last quarter. Signaturefd LLC raised its holdings in Zillow Group by 10.4% in the 4th quarter. Signaturefd LLC now owns 1,711 shares of the technology company’s stock valued at $117,000 after acquiring an additional 161 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Zillow Group by 78.9% during the third quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock worth $33,000 after buying an additional 187 shares during the period. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Canaccord Genuity Group set a $72.00 target price on Zillow Group in a research note on Wednesday. Mizuho set a $65.00 price target on Zillow Group in a report on Wednesday. Susquehanna set a $50.00 price objective on Zillow Group in a research report on Thursday. Wells Fargo & Company lowered their target price on Zillow Group from $73.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, DA Davidson set a $75.00 target price on shares of Zillow Group in a research report on Thursday. Fifteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Zillow Group currently has an average rating of “Moderate Buy” and a consensus target price of $78.43.

Key Headlines Impacting Zillow Group

Here are the key news stories impacting Zillow Group this week:

• Positive Sentiment: Zillow highlights a profitability milestone and faster rentals growth, which supports the company’s longer?term path to sustainable earnings. Zillow Group Profitability Milestone Highlights Rentals Growth And Valuation Gap
• Neutral Sentiment: Citigroup cut its price target (from $100 to $78) but maintained a Buy rating, keeping upside expectations though at a lower valuation. Benzinga: Citigroup price target note
• Neutral Sentiment: Analyst commentary and features discuss potential catalysts and valuation tradeoffs — useful for investors weighing near?term legal/earnings headwinds versus longer?term revenue momentum. What Catalysts Are Recasting The Story For Zillow Group (ZG)?
• Negative Sentiment: Q4 adjusted EPS missed expectations (reported roughly $0.39 vs. consensus ~ $0.42), prompting heavy selling pressure and a sharp weekly decline. Earnings execution shortfall is the primary near?term catalyst for the share drop. Zillow Stock Drops Nearly 20% This Week After Earnings Miss
• Negative Sentiment: Several analysts trimmed targets and/or ratings (Wells Fargo cut its target to $61; Barclays issued a Hold), reducing near?term analyst support and pressuring sentiment. Wells Fargo & Company Cuts Zillow Group Price Target
• Negative Sentiment: Multiple insider sales were disclosed this week (including the General Counsel, CTO, COO, CAO and other insiders), which investors often view as a negative signal about confidence or a source of additional selling supply. Representative SEC filing: Insider Form 4 filing
• Negative Sentiment: Shares hit a new 12?month low after the mix of the earnings miss, price?target cuts and the spike in trading volume — signaling increased near?term downside risk until clarity returns on margins and legal/headline issues. Zillow Group Sets New 12-Month Low Following Weak Earnings

Zillow Group Company Profile

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.